Doesn’t time fly when you are having fun!  Summer is now over and Autumn is now upon us already.

For those of you with a March year end, it would be wise to start thinking about getting paperwork  to your accountant now – that is for both limited companies and sole traders.

For those running PAYE schemes, new late filing penalties will apply to returns due from employers for the tax year 2014-15 onwards. Up until now, HMRC have been deferring the start of these penalties to give HMRC and employers more time to adapt to reporting in real time. However, they will now start from next month, 6 October 2014.

To avoid late filing penalties, you must make sure all submissions due are fully up to date by 5 October 2014.

Finally … although Christmas is still ages away, the SA tax deadline date of 31 January 2015 is gradually getting closer and it would help accountants considerably if clients could get paperwork to them within plenty of time and not leave everything to the last minute. So if you are self-employed and you do have your paperwork more or less ready to hand in, please do so this month.

If you have any queries about any of the above points, or any other accountancy matter, please feel free to ring us on 0800 180 4252 and we would be happy to help.